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StarGate Staking Special: 🚀 Launch Day 🚀 Community Chat w/ Sunny Lu
Recorded: July 1, 2025 Duration: 1:04:30Space Recording
Short Summary
VeChain celebrates the successful launch of Stargate, a pivotal project that enhances its blockchain capabilities and introduces new staking rewards. The team discusses their roadmap, focusing on future developments and the integration of a delegated proof of stake model, signaling a significant shift in user engagement and growth potential.
Full Transcription
Music Thank you. Thank you. hello hello hello five minutes in sorry team we'll kick things off i had a bit of a tech
nightmare as is tradition uh trying to start the space today so we've got a different link
apologies for that um i'm just trying to get dan up because I can see him down there in the crowd but you know opening the room hope everyone's good today obviously massive
day for V-Chain Galactica merging we've got Stargate going live I mean the guys
here have been insanely busy about let you I'll let them talk about that but
how's everyone doing today Sonnyny, Dan, Rosa, welcome to the stage.
Hello, guys.
Hello, everyone.
Hey, guys. Hi, everyone.
Yeah, great to have you here. Sonny, thank you for your time as always.
Appreciate you're in Singapore right now, so it's a late one for Sonny.
This man is not a machine, we promise.
And he does get sleep sometimes.
But yeah, I mean, we'll just hop straight into it.
I mean, well, actually, do you know what?
First, I'll do a polite intro.
We all know Sunny very well.
Everyone loves Sunny.
But Rosa, Dan, of course, Rosa's appeared on a few, you know, videos and whatnot lately.
But I think give them both a bit of time to intro and give yourselves a bit of a, yeah yourselves a bit of background about what you're doing at VeChain, and more importantly, what your role was in Stargate, because of course, to preface, you both played quite major roles in Stargate, right?
Yeah, I can start here, Jake. Nice to be here. First of all, I'm Rosa, Product Manager for VeChain, and product manager on the Stargate project as well.
Been in VeChain for the past few years and quite interesting thing.
My first project in VeChain was the rewards platform.
So, you know, seeing this shift from the new rewards platform to Stargate launch today is very emotional.
And I think same is for Dan. Dan, I'll leave it to you.
Yeah, yeah, actually. Hi, everyone. When I joined two years ago, VeChain won, I think it was actually the second product because I first was on V-World, but for a small time. And it was rewards. And yeah, we were so happy when Vinit and Sunny told us about the Stargate project and giving a new life to all the nodes. It was one of the big projects, let's say, where I've been.
Then I worked on the VeChain kit, account abstraction, that kind of stuff.
I hope you are using that and you like it.
And now on Stargate, I'm the tech lead here.
And, yeah, got my hands dirty, let's say, with the Solidity contracts
and helped the team a bit here and there with some patch
on the front end let's say and yeah that's me. Nice nice and Sonny for anyone who doesn't know
you what's your role in V-Chain and Staggy? Mine? No Sonny. Sorry i was wondering like what what this question is about
well um hello everyone um well i apologize my my brain is running a little bit slow now
uh firstly we had a terrific week last week in Vegas, getting Dana and myself interviewed by Coindesk, which is quite exciting for everyone.
And then follow up the BYB launch and the PowerSnap UFC events, getting more people to understand what we're doing.
getting more people to understand what we're doing.
And then after the whole week activities in Vegas,
then basically I was just jumping to the airplane
and took like 20-something hours flight back to Singapore
and ready to for two weeks busy schedule also in Asia as well.
two weeks busy schedule also in asia as well um so yeah it was a quite um intensive schedule for me
but um well okay my job for stargate basically i was um i was the initializer and also the
designer for the whole protocol and tokenomics for For sure, I cannot do the job by myself.
You know, the technical team, protocol team,
and also the product team, like Rosa and Dan, Vani,
we all working together.
It took us six months, I think more than six months.
When we get started, um, even challenges
each other, I think it was, uh, starting from November. It was in London, right? Jake,
I think we had a workshop in London. Yeah. And also it was a very intensive discussion
and also, uh, following up, um, a couple of the, um, workshops in Dublin, um, and also following up a couple of the workshops in Dublin
and also online all the time.
And then six months later, here we are.
We've got Galatica Live, also get a Stargate Live.
Yeah, pretty exciting, actually.
I mean, it's very impressive.
I remember those heated discussions with Neil and the core team, just like, this is impossible. We're like, it's very impressive. So I remember those heated discussions with Neil and
the core team, just like, this is impossible. We're like, nothing's impossible. Six months later,
now we're here. And obviously, I mean, we were out in Japan recently and I had the pleasure of
spending some time with the core protocol team. And they're like, yeah, we've basically mapped
out Hibuza already. Like, let's get it going. It's like, wow, you know, these guys are really on it. So massive credit to the products
and core dev teams.
Like, they are absolutely crushing it.
Yeah.
Rosa, Dan, I mean,
how are you guys feeling today about...
Actually, sorry, I'll step one step back
before I go too much into the team questions
because the community guys here,
I just want to, you know, make it known guys here, I just want to make it known,
if you want to ask a question,
if you've got a curiosity,
we want to keep it,
we always try and keep it a bit interactive.
So if you put your hand up,
we can bring you up.
It doesn't have to be we speak and whatnot.
Second half, ideally,
we'll open to the floor
and get a bunch of community questions up.
We've already taken note of some comments
we've seen across the social channels just to address some immediate burning questions. So we've got a few in the
pipeline, but obviously we'd love to have a bit of live interaction. Mr. Whitman, straight in.
I had zero doubt that was going to happen. Mr. Whitman, always a reliable questioner.
Okay, Dan Rosensunny, I'm just going to invite our first community question up. Sorry to disrupt the flow.
Sure.
I think, you know, keep it agile.
Sure.
Mr. Wiseman, welcome.
How are you doing?
Hey, everybody.
Congrats on the Stargate launch.
Hey, thank you.
Yeah.
I did have a question just because, you know, there's been a lot of activity in the Xnode chat.
I just wanted to bring up an issue that it seemed like one of our Xnodes was having where
I just went and checked it, but he basically was migrating his Molnir X. And for whatever reason, it seems like he was awarded just the normal Molnir Eco
node versus his Molnir X node delegator. And checking on VChain stats, it does show that his
Molnir X was burned. But for whatever reason, he was just awarded the Molnir Eco node. So he said
he raised a ticket.
So I just wanted to bring that up because obviously he's a little bit
trying to figure out what's going on.
So I just wanted to raise that concern.
Yeah, we have been aware of this kind of the case.
Basically, the user were not,
let's say, didn't migrate the nodes,
but just directly minted the new node.
So that's why it kind of caused, like using, for example,
if he minted the new node,
and he minted the minial eco node with 15 million VAT,
and then because the wallet has less than 15.6 million VAT,
which is required by the Exynos,
then you're going to lose the Exynos status.
But I know Dan and Rosa has been looking to that kind of situation
to see what we can do to try to, let's say, recover this. But honestly, so far, let's say we, well, again, it's a blockchain, right?
The rules is rules.
We're not able to guarantee anything, but still working on trying to figure out
is there any solution to recover that.
But also, it's a good reminder from this way to main,
but also remind to everybody before you do the swap,
before you do the main,
please read about the instructions following the application.
Take it slow, take it carefully.
If you got the existing eco node and x node
please do the migration first before you try to mint any new eco node
dan you wanted to add a little bit something on that yeah just saying
you already explained everything so that was the of course. We are already like trying to
minimize the risk for all the new users by updating the website with a warning explaining
this. So hopefully no one else, let's say we have this issue. And we are looking into like possible
solution on how we could help those users. Of course, the best suggestions, like Asani was saying, don't
just click buttons, take your time, take like 10 minutes to read what you're doing. So you just
have a very nice evening, let's put it that way. But yeah, migrate first and then mint new nodes.
But yeah, migrate first and then mint new nodes.
That was the issue for those users.
Yeah, yeah.
I bet you're glad you waited, Mr. Whitman, now.
You said last night in our space that you were going to just give it a few hours.
Yeah, well, what's funny is that I didn't wait, but my node's okay.
I did it this morning right when I woke up.
But yeah, just, you know, I'm in the chat,
the flurry of stuff happening in the chat. This just unfortunately happened to one of our most
devoted X nodes who's been an OG since 2017. And the way you guys explained it makes sense.
The blockchain is unforgiving. So he just reached out to me. I thought I'd reach out
on his behalf so thank
you guys very much for the answers and i'd say you know if there's anything you can do um you know
that would be appreciated but totally understand you know it is it is what it is like it's blockchain
so uh just wanted to to flag that for you guys but uh i'll just go ahead and drop down from this
drop down from the stage and let you guys continue to celebrate this milestone achievement.
from the stage um and once you guys continue to celebrate this uh this milestone achievement
Thanks, man.
Yeah, thanks, Mr. Woodsman.
I know those tickets are being looked at.
You've seen those flailing around.
So it's definitely being looked at.
So, yeah, thank you very much for bringing to our attention.
So I don't see any other questions waiting currently.
So we'll carry on kind of picking the guy's brains here.
But I mean, you know, how are you guys feeling seeing Stargate go live today?
Because, of course, we've had VeChain for the blockchain.
It's been this kind of static, not static, but, you know, it's been it's been a beast for a while.
And we're really seeing like radical shifts in how the protocol kind of functions and operates and the ethos behind it.
and how the protocol functions and operates, and the ethos behind it.
I mean, obviously, Sunny, for you, you've ever seen VeChain since birth,
of Dan, Rosa, as product leads.
Again, you're seeing your babies come to life.
What's the emotional side of that for you guys?
Is there a feeling there, inspired?
Yeah, of course.
I mean, I think i mentioned that before um people ask why people
ask like what why is now that kind of question but i just wanted to let's say repeat again
firstly we have been thinking about you know the protocol upgrades and tokenomics grades for quite a long time, for years.
But on the other side, we were waiting or expecting more clarity coming from the regulatory requirements.
Let's put it this way.
But, you know, by the end of last year, we were very close, like really, really close about the MECA compliance.
Also, following up the result, in March, VET and VSO get MECA compliance through the Central Bank of Ireland.
Also, by the way, we're still working on the BETA token to be compliance as well about the mica so basically
we're getting by the end of last year we were we basically we're getting like a very clear
requirement in terms of the tokenomics in terms of the rewards consensus protocols yield all of those
consensus, protocols, yield, all of those topics.
And also, especially this year, SEC from the United States also issued some of the guidance,
not even the regulation yet.
Well, everybody knows USC is focused on the Genesis Act, focused on the stablecoin regulation,
but also actually SEC issued the guidance
in terms of the yield, in terms of staking as well.
So basically combine MECA and the guidance from SEC
of the United States,
we're getting so much clearer
in terms of the regulatory requirement then comes
to this um you know the tokenomics design so basically um in in summary let's say
um the core message of the design is the user should get the rewards by contributing actively to the network staking
and to secure the entire networks.
So that's number one.
Number two is the rewards should come in from the protocol level directly
based on the predefined algorithm, the blocks design,
the network design, the consensus as well.
So based on that, that's actually leading to, you know,
the new tokenomics upgrades and also the Vechin Renaissance upgrades.
That's number one. Number two actually is about a novel design to use the NFT to do the staking,
which is like no one has done that before.
And also I believe it's very, very important and critical to the entire Vecham blockchain
and also even to the entire blockchain industry.
So even to the entire blockchain industry, because we all know that even the decentralization
sitting the top of the priority for any crypto projects, but actually the reality is decentralization
is not that easy.
Basically, it's linked to the technical capability requirement to run a validator. And to normal people or to ordinary, let's say, community members who doesn't have such
technical capability actually would not be able to, you know, participate in the consensus
or participating in the protocol level directly.
directly. So that's how, like, why we designed this NFT staking model to, let's say, sweep the
technical barrier. As long as the user knows how to operate the NFT and they are able to participate
in the consensus level, it kind of, let's say, enable the inclusive decentralization for real.
So that could get more people to be able to participate in the networks
and also enjoy the rewards.
And I would consider this is a really revolutionary breakthrough
for the future decentralization world
and also eventually for the scaling up of
the vchain ecosystem along with you know the vbetadal scaling up actually vbetadal has been
running so far so good on track i would say you know we just reached the 40 applications and
We just reached the 40 applications and almost 3 million active addresses, including the two applications over 1 million users.
So we're expecting like three or four or five more to come on board and getting more and more users.
So basically also, I would say aligning what is the current market vibes. I know the
market is still a little bit quiet, let's say. Everybody is expecting Federal Reserve to cut
the interest or less concerns about the possible impacts coming from the geographical conflicts like Iran,
Israel, or Ukraine, Russia, that kind of situation. But generally speaking, I would say
the crypto market is going to a very critical change coming from the first growth curve into the second growth curve.
And there are two possible or very, let's say, high possibly trends, let's say, the
new, how do I say, the market will be focused on.
One is real utility.
Another one is real yield,
which actually V-Chain Renaissance plus the V-Bet at all representing those two directions.
So just give a little bit patience about the market,
you know, continue to correct,
continue to consolidate the stage.
But once the market starts to, you know, continue to correct, continue to consolidate the stage.
But once the market starts to, you know, turn the directions, goes up, and I believe the VeChain will be, you know, sitting the leading board of the whole market.
Yeah, I mean, you make some interesting points with the macro,
because, I mean, we've got Bitcoin sitting at all time highs and yet somehow like sentiment's so fearful.
It's felt so fragile this time.
I've been through two bull runs previously myself, and this one's definitely the weirdest one that I've been through.
And obviously, speaking to the macro, again, like you see the amount of inflows to the Bitcoin ETFs. I mean, insane volumes of money.
And at the same time, like the kind of mass audience is like, you know, hands off.
You know, we don't want to touch it.
And actually, the institutional world is going absolutely wild.
Well, actually, I would say it's there is a reason behind that.
And it actually can be analyzed um let's put this way
you know for the previous cycles uh whatever 13 17 or 21 the market was still there were two
differences comparing this cycle or three three differences major differences. One is the previous three cycles was still, let's say,
the crypto market in the last three cycles was majorly a retail user as a majority.
Like, you know, maybe more than 80% of the retail investors and 20% institutional investors.
But this cycle is a little bit different
basically the bitcoin writhing even ahead of the schedule a little bit or breaking the pattern
is linked to the etf approval is linked to you know the institutions onboarding to the bitcoin
first so that's uh that's a one major difference and the other difference is
you know the previous three cycles has a clear let's say trends like everybody's was following In 2017, it was ICO and 2021 was NFT and DeFi.
But now in this pattern, you know, other than the MIMI,
which kind of goes to the end
or limited to a very small scope or limited,
let's say with a limited font size,
you know, there's still no clear direction or trends
which the whole market is going through.
That's the second difference.
And third is actually, you know, linked to, let's say,
linked to the let's say um the market reactions um the market reactions to the um traditional
the market reactions,
economic changes or traditional economic market markets you know linked to the more mainstream
linked to the the macroeconomics situations which i would without, if let's say without ETF, without
those kind of institutions coming on board to the Bitcoin, which will be, let's say,
even the Bitcoin could wait until the market make the changes or Federal Reserve still keep the interest pretty high, right?
But I still believe when the market starts to turn up,
I still believe it's going to happen in this year.
Let's say Jaron Bowell is still kind of concerning.
Even today, he was claiming like, oh, we're going to monitor more.
We're going to see more the impacts be
careful about the inflation about the real data and then we could make changes but still I believe
it cannot be delayed too much it could be delayed a bit but it cannot be delayed too much
in terms of federal you know in terms of the interest rate cut. So once the interest rate
cut, let's say probably October or September, then the market will turn up. And then the
OTHCoin season will be, you know, inevitably still following the same pattern. And also,
I read about some tweets today, you today, even from the technical charts analysis,
our coin market right now is really linked to, it really sits in the same golden cross
situation like 21, like 17 as well so the the market already showing the signal um the upcoming bull run will
be very soon just nobody knows when will start um and last but not least i would say this there is
a difference there is a let's say different pattern for this cycle um like i mentioned before you know
the whole crypto market is changing from the narrative driven only for the last of for the
first 15 years to be more utility driven or user growth driven which will take time which will
you know let's say even even vbetDAO or the Vechain ecosystem,
we spend the past whole year to start to grow from zero VBetterDAO user to be like, you know, 3 million user right now.
So once this kind of signal gets picked up by markets, especially by the institutions, which we are also working on that, you know, I think the, let's say the bull run is still inevitable.
I still believe it's going to happen this year.
Nice.
I mean, I agree too. I shouldn't say too much i'm on v chains um well and interesting
to get get back on the topic of of stargate and also how it relates a bit to the kind of
proof of stake stuff because i think this is interesting now i don't want to speak out of
turn but i know obviously we've been talking to institutions. And before, I think there's an interesting parallel where, like, the entities that were validators in the past, they were very cautious and hesitant to even announce their presence because they were terrified of what that might mean.
And I think this time around, I know we've got this proof of stake stuff coming up.
I know you've personally been very busy meeting institutions.
And, like like i don't
want to say too much here but obviously the appetite's a bit different now and we've
foreshadowed that maybe we will do media around these guys coming on potentially as validators
and stuff like that so it's very interesting that something like stargate can unlock this uh new
wave of potential like institutional interest as well because of the it is it is actually other than
the bitcoin bitcoin is like uh you know it's a little bit unique and special um the appetite of
all of the institutions for bitcoin is just like okay we hold it right there are a few in let's say uh signals um in terms of like long-term holder for bitcoin is
sitting the all-time high in terms of volume also even the um the large holders are just keep buying
and holding um not liquidity that much so you can see the the etf example, like ETF holder or issuer like BlackRock,
you know, they still maintain more than 500,000 Bitcoin holding for that ETF.
So basically it shows a clear pattern for institutions.
It's more for long term.
It's not for short term trading or speculations only.
So that Bitcoin is a little bit unique and special.
And also following based on the experiences and also the conversations we had in the last six months with multiple different institutions,
they actually have a true appetite in terms of the portfolio other than the Bitcoin.
appetite in terms of the portfolio other than the bitcoin um number one is you know they need to
they need to have they need to know or they need to identify those fundamentals like i repeated
many times institutions are looking at the fundamentals like okay what kind of the problem
you want to solve what kind of the value proposition what kind of the problem you want to solve, what kind of the value proposition, what kind of the user growth as the real growth of the project,
and also what is the potential value for your platform
are going to create or, you know, building.
So fundamental is number one.
Number two is very interesting,
is they are not looking for like only buy and hold that kind of pattern,
which was quite common in the last two or even three runs or cycles.
And this cycle, those institutions, especially coming from the Trifi,
they're looking for like, okay, I want to invest on the condition
or on the basis like understanding all of the fundamentals,
but also I want to see like when I invest those tokens for long term, what can I do for that?
So that means they are kind of breaking the pattern like buy and hold or buy low, sell high, that kind of pattern.
They were more like, okay, I believe in the long term,
I want to buy those tokens,
but also I want to participate in the staking
and also generating the sustainable yield as a long run.
So this kind of the pattern is, let's say,
which is like quite a common appetite of institutions.
And honestly, when we explain and also present the V-Chain renaissance
and also the attractive APY coming from whatever,
both validators and also delegators,
everybody is interested about that.
And it's just the institutions onboarding
is not like a retail market,
like, you know, either go formal,
either go panic fail.
You know, they're running pretty like
in a steady basis in their own horizon.
So we just take a little bit of time.
Love that. Thank you, Sonny. I mean, I think we've got a nice bit of institutional insight there,
guys. You can expect stuff in the coming timeframe on those developments. But I think for the
purposes of this space, obviously, we've launched Stargate. Maybe we'll give the devs a bit of a
chance to talk about it. I love the insight, Sonny. Always great to hear what's going on at the highest
levels. We should give the stage to Rose
and Dan. I know, man. You need to snooze. Bless you, mate.
Thank you for turning up. Also, side note, shout out.
I didn't actually present the URL, guys. So if anyone's not been there yet,
check out stargate.vchain.org.
Very seamless process.
Shout out to the dev team.
It's very, very intuitive UI, and it all worked.
Super slick. I had no issues.
And yeah, amazing work, Dan and Rosa.
So to go to you guys,
maybe we'll just jump to the community question section,
just because we've got a few that we've lined up,
and I'll give you guys a chance to speak as well on your thoughts.
But maybe Dan and Rosa, for anyone listening,
what are the proper steps to migrate to NextNode?
We've obviously touched on the issue earlier.
Can you just give us a simple step-by-step?
Yeah, sure, Jake, sure. you touched on the issue earlier can you just give us a simple step by step yeah sure jake sure uh yeah as sanian dan were mentioning before very simple to migrate the next node but of course or
an eco node any legacy node basically but you really want to be careful to uh what you're doing
so ideally the flow should be you connect to Stargate
using your V-World wallet.
Of course, you can use a ledger to do so
in case you have the legacy node on the ledger.
If you have problems with the ledger, I want to add here,
it's to upgrade your ledger due to the Galactica hard fork.
So any of you having issues with that,
please update your Ledger first
and then operate on Stargate.
Otherwise, you'll be blocked.
You won't be able to sign transactions.
Nice.
That's actually my second question.
So great shout.
I saw some people having issues with Ledger.
And obviously, we've also undergone a hard fork today with Galactica so you know it's not just one upgrade which is pretty crazy.
Maybe we should have got the core dev team in there as well but I think we really need a lot
more time at that point. Yeah so great shout out Rosa. Anyone using Ledger? Kidnapped.
Yeah just upgrade that first and then connect to Stargate.
If you're in a legacy node, when you log in Stargate,
the first thing you're going to see in the portfolio,
which is right in the middle of your dashboard,
is your legacy node.
All you have to do before doing anything else
is click on your legacy node.
It will open the migration flow
and you click migrate and delegate.
What will happen when you click the button
is basically your VET will be staked,
your legacy NFT will be burned
and you will receive one of the same tier
of the new collection.
And the game is done.
Being a legacy node and being a migration,
no maturity period applies,
so you will start generating delegation rewards immediately.
But as per target design,
you will be able to actually claim the delegation rewards
at the end of each cycle,
which is up seven days from the date when you migrate and delegate.
So very simple steps.
Connect your wallet where you have the legacy NFT.
Click on the NFT, which you find in the portfolio,
in the middle of the dashboard, and click the migrate button,
and click the migrate button and the game is done.
and the game is done.
Amazing.
And I saw some people wondering,
because obviously we know that the Hayabusa hard fork is coming.
Maybe Dan, you could speak to what will change under Hayabusa,
but obviously right now the Delegator NFT,
we're not actively delegating to a validator, right?
So maybe you could just talk to what changes once Hayabusa goes live and what users can expect.
Yeah, you're right. Now we are not actually communicating with the protocol for the
delegation. It's just a simulation. VeChain is funding the rewards for these six
months basically program until Hayabusa is out. And the whole platform, let's say, first of all, to give time to all the legacy nodes to migrate, right?
So they will be ready for Hayabusa.
And when Hayabusa will arrive, everyone hopefully will already migrate their nodes.
And now, currently, as I say, this is more of a simulation. So when
Hayabusa will be out, the process, the flow, the UX flow will be very similar. So you will
already be used to this process. And this is why we also did this, created this platform.
Right now it's just a sort of staking platform, right? So based on the NFT level that you have, you are generating rewards per block.
And those rewards, which is very important, this is the reason why we made it this way,
to teach also people, is that you enter in a delegation cycle, which is like, has a period of seven days.
So basically what this means is that once you delegate your node, the VAT, they don't
move to the protocol.
Okay, they still are there in the contract, but your NFT becomes locked.
So you cannot transfer your NFT in those seven days and you start to accumulate
delegation rewards but you can claim them only at the end of the seven days period. So it's basically
like we better doubt, let's put it that way, right? You do your things and then on Monday you claim
your rewards and then you use the apps for the other week and so on and so on. The difference is that for each one of us,
the seven day period starts in another moment, right?
Because it depends on the moment that you minted,
you staked or you migrated your node.
When Hayabusa will be live, of course,
it will be more interesting because
the nodes will actually delegate and choose a validator. Like right now, if you go to the Stargate app, you will see that there is a row saying validator
and there is nothing selected there. This is because of, there are no validators to delegate the VET to.
But when Hayabusa will go live, you will select also the validator to who you want to delegate.
And basically that validator will be able to participate in the consensus protocol thanks to you that are delegating VET to him, right? So he will have more probability to process blocks, and then he will get a share of the rewards to his delegators. A lot of information will come before, let's say,
there are still at least five months, I think, before that. For now, the platform is way more simpler,
and it's a way for us to, first of all,
teach you how it will work the moment that Hayabusa will be live,
but also for you to get some juicy rewards.
Love that. Who doesn't love juicy rewards?
And we were talking last night, actually, we had a node space, and I was with Mr. Whitman, and Vinit
kindly popped up onto stage to save me from my own shortcomings and understanding.
So thank you, Vinit.
But you're making a really interesting point around, obviously, in this new validator model,
it will have a bit more interactivity.
Obviously, the fact that the KYC element is removed and people can stake
and become a validator more freely now is a big part of it. But the fact that you'll have potentially
people, the validators are almost vying for your stake, essentially, for your delegation. So,
like, you know, one may offer a certain, like an enhanced, you know, bonus or it's just an
interesting notion around how it might
create a market of sorts.
I mean, I can't really envisage what that looks like, but yeah, I just thought that
was really cool.
You know, you're going to have some institutional, some enterprise, some people.
I've even personally been asked by a few like, you know, KOLs from across the ether, like,
oh, well, I'd love to become a validator and like spin up a node.
My community is really, you know, big into that and they'll stick to my node. the ether like oh well I'd love to become a validator and like spin up a node my community
is really you know big into that and they'll stick to my node and like is this quite a
cool thing to see like uh you know this this decentralization creeping into the ethos and
almost creating a new market out of block validation seems like a I don't know interesting
approach what do you guys thoughts on that that's's Dan, I see your hands up. Yeah, no, absolutely. I wanted to confirm as well. And even like the way we built the smart
contracts and the system itself, we try to do as much as possible to allow other developers to
interact with the delegator nodes. So I don't know, have contracts that maybe use some DeFi so you can create maybe
DeFi on top of the NFTs themselves before even going to the validators or the validators.
I don't know, like I'm really like I see that in the community that we have, we have a lot
of great minds. I personally see a lot of products going out around DeFi.
So I'm sure that they will find some very interesting way of using and building something very particular, let's say, for VeChain around DeFi
and using the nodes and the validators when they will be out.
So yeah, I just wanted to say I'm pretty excited about this as well.
It's pretty interesting.
That's pretty cool.
I'd be interested to see what wacky stuff could emerge from that.
Obviously, there's going to be sensible stuff.
There might be fun stuff.
Who knows?
It's web-free, eh?
But, I mean, a bit of humor is always good for web-free.
Okay, well, back to the questions.
Well, back to the questions. Thanks for your insights, Dan. Very good stuff there.
Thanks for your insights, Dan.
Very good stuff there.
Some users have asked about the lock icon on the NFT in the UI of Stargate.
Could you just explain what that means?
Yeah, sure. I can take this.
Dan, of course, then add up anything if I'm missing something.
The lock icon on top of the NFT basically shows that your
NFT is delegated, so that your NFT is locked. For the new stakes, NFT will actually be delegated
and generate rewards once maturity period has finished. But generally, when you see the lock on your NFT, it means that it's delegating
and it's locked. In order to unstake your VET or to transfer your NFT or maybe to sell it,
you'll need to unlock it. How do you do that? By exiting the delegation. In case you have
out renew selected, you have to manually click on exit delegation and wait for your seven day cycle to finish.
If you have delegated without auto renew, you just wait for your seven day period to finish and you'll be automatically outside the delegation.
So the lock will disappear.
One thing I'd like to say, maybe a small spoiler, is that we realized people are actually loving
the new NFT designs, and it's a pity having them blurred with a lock on top of them when they are
delegated. So we're going to remove the big lock, we're going to remove the blur, so everyone's going
to be able to see their NFT nice and clearly on their app. We'll just add a small lock on the top right corner just to show
that the NFT is delegated and generating rewards. But you'll be able to see it pretty clear,
BMO, in all its magic soon.
Lovely stuff. Dan, any supplementary info or has Rosa nailed it there?
Nailed it as always.
And I'm just saying it's not transferable.
So you see the lock icon, it means you cannot transfer it.
If you see it on a marketplace, yeah, you can't buy it because the transaction will revert because that NFT is used, you know, to generate rewards.
And so just if you want to trade it, let's say you need to exit delegation, you will still earn base rewards,
those you will always earn. And what I can say on top of this
is that on transfers, all the pending rewards that you have
that can be base rewards or even delegation rewards, they
will be automatically claimed and sent to your wallet, right?
So you can try to trade it without risk, let's say you just put it on the marketplace.
And I would say what you could do maybe is like if you still also want to delegate, you put it there,
but the buyer, please just double check when the delegation
ends because you will need to buy it in that moment. Otherwise, yeah, because it's not
transferable. That's it.
Fair enough. Fair enough. Because I think some curious because obviously the image is blurred
out. So it might give the impression that oh, this something is wrong here. I think that was
a one comment I saw. but i'm sure you know always
iterate right that's sunny that's the uh the key line so i'm sure we'll be working on the ui as we
go uh but so far looks very good yeah and also just like any of our products uh we deliver and we always iterate, keep it up.
Quick and dirty and always iterate.
That's my key phrases I've learned working at V-Chain.
Well, the start date is not dirty at all.
It's very pretty.
That could come across really badly.
I mean, as in, move fast and break things is the ethos, right? It's, you know, get products out, iterate, improve, and keep growing fast.
Which, you know, anyone that's been here from the early days,
since the CTO came in and the tech center,
I think anyone will recognize the shift in ethos that followed at that point.
Great.
So, Dan, Rosa, sorry, similar thread, but just to confirm. Obviously, X nodes can't be upgraded anymore, but economic nodes, there are caps, there are finite caps. If someone was to upgrade the economic node or wanted to, how would they do that?
Well, there is not like with the legacy nodes, you had a button just saying upgrade, right?
And there was some maturity period going on.
Here, you cannot directly upgrade.
You need to first unstake, get your bet back, and then you just stake again, right?
So if you want to go to the next level, you exit the delegation, unstake your NFT, and
unstaking
is immediate.
Like the moment you unstake, it will burn your current NFT, give you the money back,
the VET that you stake it, right?
So you will have in your wallet all the VET that you use to stake, and then you just go
and stake again by selecting the NFT, the level you want.
So this is, let's say, the way to upgrade.
Nice. Thank you. Thank you.
And then obviously there's a maturity period that you would then wait for.
And then, you know, after X amount of days, depending on your node,
you will resume the staking experience.
I've just brought Kila up to the stage.
Kila, how are you doing?
Oh, oh, shit. That was by accident. I'm really sorry. I hear my name. Really sorry. You can't keep me down. I'm sorry. I'm sorry.
That's alright. You got my biggest question for the team?
No, not yet. Really sorry. Apologize.
That's so good. Alright, I'm kicking you off. Bye.
Okay, sorry, guys.
That's throwing me now.
So where was I?
Ding, ding, ding, ding, ding.
Okay, I saw some people were reporting a UI conflict
with the VBET delegation feature.
Do you have any advice for them on what to do in that scenario?
I think it's where they're holding like multiple uh stagger nfts in one wallet and then delegating and and yeah there's
a bit of a yeah currently the better doubt doesn't support multiple handling multiple nfts
it's something we are working on and we will deliver as fast as we can
fast as we can. I hope end of this week, next week, let's say. But for now, my suggestion to you
is like if you want to use, like if you have a wallet with many NFTs and you want to use them
all to endorse, for example, one way to do that will be you go to the target application and
maybe you saw it, but you have a button saying add manager. So this manager is functionality is very similar to actually the same one that was
also in VBetterDAO where you could like have your node on a ledger, add a delegatee,
let's say another manager to it and never use your ledger again, but just connect
to the wallet that you selected and you will
take, let's say, the ownership, you will use the ownership of your node to endorse, to
attach to GMNFTs, but without actually having access to transfer and stake, delegate again
or whatever, right?
So my recommendation to you, if you like, if you want to do it already
now without waiting for VBetterDAO to release this feature is go to Stargate, the app and
start adding managers, one different manager for each NFT that you have, and then connect
with each different wallet to VBetterDAO and you could endorse with every NFT,
you could attach it to your GM. And yeah, that's basically what you can do at the moment. So yes,
or you do that and all the NFTs, they will still be in the original wallet, right? It's that now to interact with VBetterDAO, you can use different identities
slash managers. Yeah, that's a way you could hack the system, let's say, or yeah, you just
wait for us and we will deliver as soon as we can. Love that. It's the Web3 way, like,
here's the hack, wait for the proper response. Exactly. There you go, guys.
You've heard the workaround for now.
But, of course, that will be addressed in the future.
So, all good.
Rosa?
Yeah, no, just one minor since Stan was touching on the node manager point.
Note that the manager can also claim rewards on Stargate, delegation rewards and baseboards on Stargate. But the rewards that the manager claims will go directly to the owner's wallet.
So in case you're worried on where your rewards go, know that they will go directly to the
owner's wallet.
Manager can just click the button, but you'll get the rewards on the owner's one.
Yeah, that's a nice way to offset a common concern around using your cold wallet as
something that interacts.
I remember I signed a transaction with Adapt basically once on my ledger and I felt ill
for weeks.
I was like, oh my God, I'm compromised.
It's going to...
I think everyone can relate to why we needed this delegation feature.
Welcome to the cup, Jake. I feel you. You know what I mean? So I think, you know, everyone can relate to why we needed this delegation feature. So that's another...
Welcome to the club, Jake.
I feel you.
The pain, the pain.
You're literally like, oh, my God, oh, my God, oh, my God.
Anyway, all was well.
So that's fine.
Great stuff, guys.
I mean, we're coming to the very close to the top of the hour now,
and I appreciate it's extremely late for sunny.
And obviously, we've got our dev team out in Europe,
so they're further ahead as well.
Maybe just a couple of final questions,
like how are we looking so far on the stats, guys?
I don't know how to put you on the spot with that
because you may not have it open,
but obviously we are now, what, four hours in.
Do you have the numbers, Handy?
We almost hit 2,000 NFTs, including new stakes and migrations.
We have 1,928 up to now.
Wow.
With a total of 1.6 billion VETs locked.
Amazing.
Not bad for four hours work.
Wow, yeah.
Not bad.
And obviously, continuing onwards and upwards with that push uh you know this is just
day one this is obviously our most engaged uh audience but you know we're kicking off a bunch
of media and kol campaigns we obviously want to make the world aware of this new program we've got
uh now starting from as little as a 10 000 you know vt stake i mean looking on chain there's
something like 160 000 wallets with at least that.
So there's potentially a massive potential here for growth from that.
So that's exciting.
Sonny, I heard of Russell.
Was that, did you want to say something?
No, never mind.
Well, great stuff, Rose.
Great stuff, team.
I don't want to end with this question because I feel like, you know,
obviously everyone's been working so hard up to this date.
And now Galactica has arrived.
Stargate has arrived.
Everyone's breathing a sigh of relief for tonight.
But I've got to ask, you know, so what's next on the Stargate roadmap?
What are you guys looking at in the near term
and obviously with Renaissance or some key milestones
people can look forward to?
Because, of course, Stargate, again, just to preface,
it's a major revamp of, like, VChain's tokenomics.
You know, this is the rewards being revamped.
We've got, obviously, the actual economics being revamped.
It's quite a significant step.
But, yeah, guys, I'll hand it to you.
What's the kind of next items on your roadmap
after a good long night of sleep tonight?
Well, Jake, of course, we're going to do many improvements to the app
just to make sure the user flow is the best.
Users are well aware of what they're doing,
optimizing everything, basically.
But I think the next big step on Stargate's roadmap
is work together with the protocol team on making Stargate ready for Hayabusa.
So we'll have all the work to do around, you know, validator selection, different cycles, locking to a validator.
We need to work a lot with the core protocol team, you know, to make sure we're well aligned with what will happen by end of year.
And of course, also work with the community
to make sure what we're doing,
what we're building is okay,
meets the expectations and is really comprehensible.
So our final goal is to make a delegated proof of stake
as simple as possible.
You know, many times if you start thinking about,
oh, I need to pick a validator,
then I need to tie to it and enter a cycle.
And then when do I exit?
You know, all of these thoughts,
we kind of want to make them easy for the user.
So our goal is to work with the protocol team
to be ready for the when Hayabusa is live,
but at the same time time mainly make it easy,
work to make it as easy as possible for our users, for the delegators to become active
participants of the network.
Lovely stuff.
Dan, do you have any closing thoughts around what's next for Mr. Roshnek?
closing thoughts around what's next for Mr. Roshnek.
Yeah, so as Rosa was saying, Hayabusa, and for us, this is actually just the beginning.
We went live, but as we say, this is a simulation and everything, but the real product is what will
go out with Hayabusa, so it's just the beginning of the journey, iterating in the next days and weeks,
let's say, over the product to make it the best possible, but then heads down and looking at the
next goal, which is deliver this amazing, not only platform, because it will be a bit more, right,
because you're actually integrated in the protocol yourself so i think for the people that
will work on the project and for us it will be like a nice um how do you say it like it will be
engaging because it will be something particular so yeah we are looking forward for that one
and of course making the experience on vbetterDAO the best one for Xnode,
to endorse and to select nodes and everything that is already on our to-do list there.
Amazing. The chain is becoming more interactive than it's ever been,
which is pretty cool. Lots of pathways to get engaged, get involved,
use the network, IRL.
Yeah, very, very cool.
Sonny, what's next on your roadmap, dare I ask?
Yeah, well, our roadmap is still full of bricks,
needs to conquer bit by bit.
Generally speaking, 2025,
we still have a two major stage, right?
September will be the Hayabusa VIP testing,
testnet launch.
And then by December, it's Hayabusa mainnet launch.
Well, even for Galatka, this space,
we didn't talk too much in terms of the technical
updates, you know, with all of the EVM catching, EVM version catching up, capability, all of the
stuff. So maybe the dev rail could organize a dedicated session to talk to the developers, talk to the builders, to getting them on board to, let's say, support us.
Secondly, you know, the Interstellar,
even it's planned to 2026,
but the job is to get, you know,
design starting before the end of the year.
So roughly from September to December, that kind of month,
we will start to work on the original design for interstena
to make the, you know, the last stage,
the last phase of Vita Renaissance also finish stone.
And on top of the Renaissance itself,
also the parallel,
just wanted to drop a little bit alpha here.
We are working on the second white paper
for V-BetterDAO as well,
based on the last one year experiences,
all of the cases we have been through,
whatever ups and downs,
and also many concerns or community discussions and debates.
So based on all of the summary of the current situations,
we are looking for the new upgrades
of the entire VPEP DAO,
basically engage a big help
coming from outside the community,
which we'll be using as an AI agent.
So AI agent going to play a very important role
and should play a very important role and should play a very important role
and to support or enable the VBetterDial
continually to scaling up.
Easy user experiences,
make the more comprehensive and world draft proposal,
even help its user to analyze or assess,
to make assessment about any kind of proposal even help its user to analyze or assess,
to make assessment about any kind of problem could lead to whatever outcomes or consequences
to allow user to make a better adjustment,
a better decision.
And even, you know, as ultimate situation
or ultimate stage,
even the AI agent could hold in some of the better token
to do different type of jobs,
provide different type of services.
And based on that, you know,
can be more, can keep the DAO iteration,
like keep iterating.
So in general speaking,
you know, the next version of,
by the way, still working on that,
but the next version of white paper for VBetterDAO
is going to be focused on the AI strategy
or AI agents going to play a quite important role
in the next version of vBettered.
Very comprehensive. Yeah, I love it. I mean, great stuff.
There's never a lack of a roadmap in all the departments now in V-Chain.
There's always tons and tons going on.
So, I mean, we just had obviously a big CME gathering in Japan
and we've got the next six
months mapped out which is which is amazing like we've got that much stuff coming up so
awesome work team awesome work um as it's the top of the hour we're gonna we're gonna call it i've
already messaged our dev rail we're gonna get a galactica space going on so watch this space guy
guys and girls we will dive into the the galica side, which also went live today, which brought a bunch of other tech updates.
But yeah, for now, obviously, head over to Stargate.vechan.org.
Anyone with a stake of 10k or more can now spin up a node.
There's a bespoke rewards program created just for it.
We've got 5.48 billion veto that the Foundation have put up to support the program. So, you know, this will
see us through to over the next six months. And then the launch of Hyabusa, of course,
introduces new kind of tokenomics. And if you want to see what that will look like for your
stake at that point, head to Redino or VeChain Stats. They've built calculators so you can see
exactly what your stake will learn
based on which node tokens you own.
My ask of you today is to go out there, visit the platform, get your nodes rolling.
If you've got any questions, obviously, put them onto X, tag us.
The team's always watching, so we will see them and we'll try and reply. Happy Stargating ultimately.
So team, thank you so much. Sunny, I really appreciate your time. Sorry, it's like 3am for
you right now. So I apologize but thank you for staying up for us. Dan, Rosa, always a pleasure.
Thank you for all your hard work. Thank you Jake Jake. Thank you, everyone. Thank you, everyone. Thanks, Jake.
Thank you, community.
Thank you, legends.
Everyone, have a great day.
Enjoy.
Thank you, guys.
Happy Stargate Day.
Bless you, sir.
Stargate Day.
Happy anniversary day.
Happy anniversary.
Yeah, happy anniversary.
Yeah, happy birthday.
It's all going on.
It's so crazy at the moment.
Anyway, onwards and upwards folks
alright
bye bye
